Obama also said a primary goal of reform is to expand coverage to those who now can’t afford it.

“This is a moral and economic imperative, because we know that when someone without health insurance is forced to get treatment at the [emergency room], all of us end up paying for it—to the tune of about $1,000 per person,” he said.

Turning to how to pay for the cost of subsidizing premiums for the lower-income uninsured, Obama said one revenue source would be a reduction of government subsidies paid to insurers who provide coverage to Medicare-eligible retirees through Medicare Advantage plans.